General Electric (NYSE:GE) has finalised the executive leadership team of GE Vernova with the announcement of two appointments on Thursday as the business moves towards its planned spin-off as an independent company “sometime in early 2024.”
Kenneth Parks is set to take on the role of chief financial officer (CFO) starting October 2, 2023. According to the announcement, he brings extensive experience as a CFO of public companies, having most recently served as such at building materials manufacturer Owens Corning.
Victor Abate, the current head of GE Vernova’s Onshore Wind business, will assume an expanded role to lead the full wind segment with immediate effect. He will now oversee the Onshore Wind, Offshore Wind, and LM Wind Power businesses. Abate has been CEO of Onshore Wind for the past 15 months and has over three decades of senior leadership experience at GE.
“I’m very pleased that Vic will expand his role at GE Vernova and lead across our critically important Wind segment, where we are working to accelerate business improvement and drive the energy transition forward,” said GE Vernova chief executive Scott Strazik.
GE announced plans to separate itself into three independent public companies focused on aviation, healthcare and energy in 2021. Its portfolio of energy businesses was given the name GE Vernova a year ago.
